Gradient Investments LLC Has $8.89 Million Position in Schlumberger Limited. (SLB)
Gradient Investments LLC raised its stake in shares of Schlumberger Limited. (NYSE:SLB) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 132,592 shares of the oil and gas company’s stock after buying an additional 3,192 shares during the period. Gradient Investments LLC’s holdings in Schlumberger were worth $8,888,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in SLB. Fisher Asset Management LLC raised its stake in Schlumberger by 21,872.1% during the 1st quarter. Fisher Asset Management LLC now owns 5,868,964 shares of the oil and gas company’s stock valued at $380,192,000 after buying an additional 5,842,253 shares during the last quarter. Summit Trail Advisors LLC raised its stake in Schlumberger by 6,833.5% during the 1st quarter. Summit Trail Advisors LLC now owns 3,457,055 shares of the oil and gas company’s stock valued at $3,457,000 after buying an additional 3,407,195 shares during the last quarter. Franklin Resources Inc. raised its stake in Schlumberger by 25.6% during the 4th quarter. Franklin Resources Inc. now owns 13,240,530 shares of the oil and gas company’s stock valued at $892,278,000 after buying an additional 2,696,580 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Schlumberger by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock worth $1,974,805,000 after purchasing an additional 2,188,823 shares in the last quarter. Finally, International Value Advisers LLC purchased a new stake in shares of Schlumberger in the 4th quarter worth $146,182,000. Institutional investors and hedge funds own 78.36% of the company’s stock.
Shares of SLB stock opened at $64.07 on Wednesday. Schlumberger Limited. has a 52-week low of $61.02 and a 52-week high of $80.35. The company has a quick ratio of 0.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $90.31 billion, a price-to-earnings ratio of 42.71, a price-to-earnings-growth ratio of 5.92 and a beta of 0.97.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Wednesday, September 5th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $2.00 dividend on an annualized basis and a yield of 3.12%. Schlumberger’s payout ratio is presently 133.33%.
Several equities research analysts have recently commented on SLB shares. Wells Fargo & Co upped their price objective on Schlumberger from $76.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, May 24th. Credit Suisse Group upped their price objective on Schlumberger from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, July 23rd. ValuEngine upgraded Schlumberger from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Citigroup reduced their price objective on Schlumberger from $79.00 to $78.00 and set a “buy” rating for the company in a research note on Monday, June 25th. Finally, Jefferies Financial Group set a $80.00 price objective on Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $79.91.
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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